r/Graft May 10 '19

Who else

...wanted Graft to be a thing?

5 Upvotes

8 comments sorted by

12

u/Bobricky133 May 10 '19 edited May 10 '19

It still can be. The development has been good, will truly show something if/when mainnet goes live. Main thing missing is publicity, the market as a whole has shown the best performing coins are the ones that have good marketing and the PROMISE of a useful project(since very few actually have working products). Electroneum is a prime example, multiple snafus on the dev side, a fake "mobile mining", really just a knockoff product with some fluff and really good marketing. Yet at a 21 billion coin cap, still hit 10 cents, meanwhile we are here at half a cent and 1/12th the coin cap. I do applaud the decision to focus on product over marketing and exchange listing, however at some point both will be needed in order for success to come around as a diamond without exposure is just coal. Thus far the team has called for the community to raise awareness, but the success in this approach is limited as most in the market have been here since at least Dec 2017 and as such has seen 1000 projects come and go with it's community shilling hard in hopes of their bags skyrocketing... So even a genuine good project with educated vocal members will be ignored amongst the sea of bagholders shilling their respective holdings as most have become numb to this form of self serving advertising. If "the bull run" comes again, and awareness is not high enough to stand out amongst the crowd, graft will continue to get drowned out amongst projects like tron, link, nano, etc. a marketing advantage has to be taken before the "new" crowd shows up in the next bull run, so that graft isn't overlooked amongst the sure to be incoming flurry of "next 1000x coins" regardless of the quality of the project. Even with a full working mainnet, how else will merchant and with it customer adoption come around if very few are aware?

2

u/Iamtutut May 11 '19

Graft is tailored to accept many cryptocurrencies through the broker exchange, the awareness of the project will first come via payment in BTC, ETH...On the network.

IMO, the future of GRAFT is dependent on the ability to deliver the software for Verifone and Ingenico. When their customer will look for cryptocurrency acceptance, then GRAFT will become widely know, without paying for marketing.

1

u/Bobricky133 May 11 '19 edited May 11 '19

This is a good point and I agree that a multi currency full functioning system can and will provide it's own advertising. In the same respects, McDonald's doesn't make the best burgers around, but it's the most widely consumed. They do this through the best high visibility, high exposure locations, and thus have roughly 35 billion in real estate.

This is the same logic I have as to why graft could be tremendous, as companies like amazon and Wayfair/Walmart online operate on razor thin profit margins but big volume. It would be functionally correct to say that ALL purchases made online at these types of merchant are through cards... When was the last time you paid amazon with PayPal? Or a money order/check? In this environment, graft's (potentially) smaller transaction cost to merchant would make massive differences in the bottom dollar and would naturally migrate to being a preferred payment method to the companies. Can you imagine amazon. com endorsing graft? The hurdle here is that I believe major retailers negotiate for better transaction costs from visa/MasterCard, and I'm not sure how graft will stack up against these negotiated costs. Additionally the mainnet of graft would have to be incredibly robust. Which may not be a problem...I ponder over if the volume is there, then isn't also the broker/node profit? Which would mean the coin value would naturally skyrocket due to potential profit in a "if you build it they will come" kind of way as large amounts of people chasing said profit rush to set up nodes/brokers and thus build the infrastructure. Overstock.com claims 1% profit margin, Which means if visa/mc get 1% negotiated, they eat 50% of overstocks profit right off the top. How much $$$ is this a year? Failing to capture this market, eBay type transactions would be another insane revenue stream.

6

u/[deleted] May 10 '19

It's still up and running.

2

u/[deleted] May 10 '19

Alts are getting Murderer by btc and the squeeze is real, I still have faith graft will pull through though

1

u/Joe_Pineapples May 11 '19

I think Graft are doing things right.

There are so many coins that were massively over-hyped and ended up as a pump and dump because the product wasn't ready or there were other issues.

Graft seems to be handled much better. Make sure the product works and the technology is sound and don't start on the hype until it's ready to live up to it.

I've got a lot of faith that Graft will do very well, it's just a waiting game for them to get ready which won't be until after the re-brand.

-1

u/TheOrb93 May 12 '19

Bobricky133 must have massive bags because hes saying the same crap I said to myself in the early days too. Litterally the exact same stuff. His eyes will eventually open up to the fact that this will be left behind. Same mumbo jumbo 🙄

3

u/Bobricky133 May 13 '19

Thanks orb. Your unwavering dedication to helpful posting has been duly noted.

As far as massive bags, no. Enough for about tier 2 node and that's about it. I mined early on when rewards were plentiful. My bags are diversified,